Michael Burry has deregistered his hedge fund, Scion Asset Management, with the decision confirmed on 10 November. The move follows his cryptic posts weeks earlier about an AI bubble forming, suggesting that the best approach is 'not to play at all.'
Burry, renowned for his contrarian bets—including his famous wager against the 2008 housing market—has made hundreds of millions of dollars betting against bubbles in the past. His decision to close Scion ends the fund's requirement to file public disclosures with regulators, effectively removing it from the scrutiny of the US Securities and Exchange Commission (SEC). He believes that the current market landscape, characterised by overstretched valuations, is out of sync with his value-based investment philosophy.
